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Market process theory is crucial to our knowledge and expectations of actors working toward economic coordination and cooperation. In the wake of the 2008 financial crisis, there has been a renewed interested in using new applications of market process theory to better understand the global political economy. This volume brings together original research from the Austrian, Virginia, and Bloomington schools of political economy to analyse central elements of market process and market order. These include economic calculation, entrepreneurship, institutions and learning. Edited by three of the leading scholars in this field, the collection offers a multitude of new interdisciplinary understandings by engaging with scholars working in anthropology, economics, entrepreneurship, history, political science, public policy, and sociology.
The political process focuses on the ways that people come together to engage in collective decision making in a variety of contexts. The central elements of the political process include: the formation of rules, the subsequent interactions that take place within those rules, and the evolution of rules over time. Scholars working in the area of Virginia political economy—e.g., James Buchanan and Gordon Tullock—emphasize the importance of applying the tools of economics to non-market settings, including politics. Scholars in this tradition focus on both politics and economics to understand the formation of political rules—constitutional political economy—as well as the subsequent play within those rules—public choice. Scholars in the Bloomington School—most notably, Elinor and Vincent Ostrom—have emphasized three important aspects of the political process and political order. The first is the distinction between “rules in form” and “rules in use.” The rules in form refer to codified rules while the rules in use refer to the rules that people actually follow in their daily lives. Together, these dynamics generate the political order. The chapters in this volume explore and engage the key thinkers and ideas of the Virginia and Bloomington schools of political economy. The diversity in topics and approaches will make the volume of interest to readers in a variety of fields, including economics, entrepreneurship, history, political science, and public policy.
Scholars from psychology, neuroscience, economics, animal behavior, and evolution describe the latest research on the causes and consequences of overconsumption. Our drive to consume—our desire for food, clothing, smart phones, and megahomes—evolved from our ancestors' drive to survive. But the psychological and neural processes that originally evolved to guide mammals toward resources that are necessary but scarce may mislead us in modern conditions of material abundance. Such phenomena as obesity, financial bubbles, hoarding, and shopping sprees suggest a mismatch between our instinct to consume and our current environment. This volume brings together research from psychology, neuroscience, economics, marketing, animal behavior, and evolution to explore the causes and consequences of consumption. Contributors consider such topics as how animal food-storing informs human consumption; the downside of evolved “fast and frugal” rules for eating; how future discounting and the draw toward immediate rewards influence food consumption, addiction, and our ability to save; overconsumption as social display; and the policy implications of consumption science. Taken together, the chapters make the case for an emerging interdisciplinary science of consumption that reflects commonalities across species, domains, and fields of inquiry. By carefully comparing mechanisms that underlie seemingly disparate outcomes, we can achieve a unified understanding of consumption that could benefit both science and society.
The Second Edition provides a comprehensive introduction to interdisciplinary studies with an approach that is succinct, conceptual, and practical. Completely updated to reflect advances in the literature on research, learning, and assessment, the book describes the role of both disciplines and interdisciplinarity within the academy, and how these have evolved. Authors Allen F. Repko, Rick Szostak, and Michelle Phillips Buchberger effectively show students how to think like interdisciplinarians in order to facilitate their working with topics, complex problems, or themes that span multiple disciplines.
Introduction to Interdisciplinary Research offers comprehensive treatment of the interdisciplinary research process commonly used by interdisciplinarians. The concise and guided resource on the most commonly accepted interdisciplinary studies principles as applied to the research process covers topics such as: deciding how to choose disciplines relevant to the problem or topi; dealing with disciplinary and ideological bias; making explicit the rationale for taking an interdisciplinary approach, and choosing research methods appropriate to the problem or topic.
This volume brings together original research from the Austrian, Virginia, and Bloomington schools of political economy to analyse central elements of market process and market order.
This open access book addresses four standard business school subjects: microeconomics, macroeconomics, finance and information systems as they relate to trading, liquidity, and market structure. It provides a detailed examination of the impact of trading costs and other impediments of trading that the authors call rictions It also presents an interactive simulation model of equity market trading, TraderEx, that enables students to implement trading decisions in different market scenarios and structures. Addressing these topics shines a bright light on how a real-world financial market operates, and the simulation provides students with an experiential learning opportunity that is informative and fun. Each of the chapters is designed so that it can be used as a stand-alone module in an existing economics, finance, or information science course. Instructor resources such as discussion questions, Powerpoint slides and TraderEx exercises are available online.
The chapters in this volume explore and engage the key thinkers and ideas of the Virginia and Bloomington schools of political economy.
Conversations across academic disciplines are the future. This work delves into the dynamics, rewards, and challenges of such conversations.
This Oxford Handbook explores the various ways ethics can, does, and should inform economic theory and practice. With esteemed contributors from economics and philosophy, it highlights the close relationshop between ethics and economics in the past and lays a foundation for further integration going forward.